scholarly journals Assessing the Opportunities and Challenges of Green Finance in Italy: An Analysis of the Biomass Production Sector

2019 ◽  
Vol 11 (2) ◽  
pp. 517 ◽  
Author(s):  
Pasquale Falcone ◽  
Edgardo Sica
Keyword(s):  
Government Policies ◽  
Short Term ◽  
Production Sector ◽  
Environmentally Sustainable ◽  
Investment Projects ◽  
Policy Interventions ◽  
Green Finance ◽  
Effective Policy ◽  
Financial Issues

The present paper provides empirical evidence of the opportunities and challenges surrounding green finance (GF), looking at the financial issues that might prevent the investment decisions of green companies. To this end, we explore the case of Italian biomass producers by means of a discourse analysis supported by a survey administered to a pool of experts. Although our findings suggest that GF provides an opportunity for achieving environmentally sustainable innovation pathways, experts recognize that it does not actually prevent biomass producers from facing institutional and financial criticalities in funding their investment projects. Such criticalities include: uncertainty about government policies, the minimal involvement of financial suppliers in the biomass sector, the short-term orientation of financial instruments and the limited knowledge of financing options and technical expertise within companies. The results indicate that effective policy interventions should ensure that objectives are orientated towards the long term with the aim of reducing the risks perceived by financial institutions in funding biomass producers.

scholarly journals A Review of Climate Economic Models in Malaysia

2020 ◽  
Vol 13 (1) ◽  
pp. 325
Author(s):  
Thirupathi Rao ◽  
Siti Indati Mustapa
Keyword(s):  
Ghg Emissions ◽  
Economic Models ◽  
Economic Modelling ◽  
Functional Capability ◽  
Short Term ◽  
Damage Functions ◽  
Policy Interventions ◽  
Effective Policy ◽  
Term Analysis

This paper presents a review of literature on the development of climate economy models in Malaysia from 1988 to 2020. The type of climate economic models used in Malaysia and their attributes were analyzed. The key attributes reviewed include functions, capability, the various approaches, types of Greenhouse gas (GHG) emissions, and various sectors included in the modelling. The review analysis revealed that climate economic modelling in Malaysia can be categorized into two groups namely Input-Output (I-O) table and Social Accounting Matrix (SAM) models as well as the Integrated Assessment Models (IAM). Both groups of climate economic models complement each other in functional capability to do top-down or bottom-up as well as short-term and long-term analysis. The key contribution of this review is in discovering three key gap clusters that exist in climate economic modelling in Malaysia. These gaps include the coverage on types of GHGs, disclosing the GHG sector’s coverage in the modelling, and the discovering of the exclusion of climate damage functions as well as the unavailability of customized functions to suit Malaysia’s climate and geography. These three key gaps need to be urgently addressed for effective policy interventions in Malaysia and to meet the global goals of the Paris Agreement.

scholarly journals Capital Structure and The Profitability of Listed Retail Firms

2018 ◽  
Vol 10 (1(J)) ◽  
pp. 171-181
Author(s):  
Jason Stephen Kasozi
Keyword(s):  
Capital Structure ◽  
Negative Relationship ◽  
Order Theory ◽  
Debt Financing ◽  
Retail Sector ◽  
Short Term ◽  
Return On Assets ◽  
Pecking Order Theory ◽  
Policy Interventions

The South African retail sector continues to experience a decline in sales and returns amidst growing external competition and a drop in consumer confidence stemming from the recent credit downgrades in the country. Yet, firms in this sector appear to maintain high debt to equity levels. This study investigated whether the capital structure practices of these firms influence their profitability. A Panel data methodology, using three regression estimators, is applied to a balanced sample of 16 retail firms listed on the Johannesburg Securities Exchange (JSE) during the period 2008-2016. The analysis estimates functions relating capital structure composition with the return on assets (ROA). Results reveal a statistically significant but negative relationship between all measures of debt (short-term, long-term, total debt) with profitability, suggesting a possible inclination towards the pecking order theory of financing behaviour, for listed retail firms. Additionally, retail firms are highly leveraged yet over 75% of this debt is short-term in nature. Policy interventions need to investigate the current restrictions on long-term debt financing which offers longerterm and affordable financing, to boost returns. While this study’s methodology differs slightly from earlier studies, it incorporates vital aspects from these studies, and simultaneously specifies a possible model fit.  This helps to capture unique but salient characteristics like the transitional effects of debt financing on firm profitability.  It therefore delivers some unique findings on the financing behaviour of retail firms that both in form policy change, while stimulating further research on the phenomenon. 

scholarly journals Time Horizon, Costs of Equity Capital, and Generic Investment Strategies of Firms

2007 ◽  
Vol 20 (1) ◽  
pp. 1-15 ◽  
Author(s):  
Thomas Zellweger
Keyword(s):  
Default Risk ◽  
Time Horizon ◽  
Family Firms ◽  
Economic Value ◽  
Equity Capital ◽  
Investment Strategies ◽  
Cost Of Equity Capital ◽  
Short Term ◽  
Investment Projects

Recent literature (McNulty, Yeh, Schulze, & Lubatkin, 2002) states that the assumptions behind the capital asset pricing model, in particular the irrelevance of time horizon, do not correspond to the characteristics of firms that prefer long-term investment horizons. I show that family firms display a longer time horizon than most of their nonfamily counterparts, since (1) family firms display a longer CEO tenure, (2) this type of firm strives for long-term independence and succession within the family, and (3) due to the fact that family firms are overrepresented on western European stock markets in cyclical industries in which business cycles inhibit short-term success. As the annual default risk of an investment diminishes with increasing holding period (Hull, 2003), the risk-equivalent cost of equity capital of firms with longer planning horizons (e.g., family firms) can be lower as well. Based on the assumption that economic value to shareholders is created when firms invest in projects with returns above the associated cost of capital (Copeland, Koller, & Murrin, 2000), I argue that long-term-oriented firms can tackle unique investment projects represented by two generic investment strategies—the perseverance and the outpacing strategy. The first one, the perseverance strategy, represents investment strategies in which long-term-oriented firms invest in lower return but equal risk projects than their more short-term-oriented counterparts. The second one, the outpacing strategy, comprises investment projects with higher risk and equal return than the short-term competitors.

scholarly journals Dietary fat choices in Finland. Long-term trends and short-term changes, 1978–2014

2015 ◽  
Vol 8 ◽  
pp. 73-77
Author(s):  
Piia Jallinoja ◽  
Nina Kahma ◽  
Satu Helakorpi ◽  
Mari Niva ◽  
Mikko Jauho
Keyword(s):  
Dietary Fat ◽  
Dietary Fats ◽  
Success Story ◽  
Short Term ◽  
Policy Success ◽  
Policy Interventions ◽  
Public Debates ◽  
Long Term Trends ◽  
Conflicting Interests

Dietary fat has long been a target of several Finnish policy sectors with conflicting interests. Changes in fat use from animal to vegetable fats have often been characterized as “a public policy success story”, in which policy interventions have led to healthier diets. The aim of this paper is to elaborate the picture of the developments in the consumption of different fat products, and to explore whether and what kind of other developments there may have been besides the general change from animal to vegetable fats. Based on population statistics between 1978 and 2014, the study shows that instead of a uniform transformation from animal to vegetable fats, there have been multiple developments simultaneously, and not all of them unambiguously agree with the "success story" discourse. The changes were related to novel fat products, health policy interventions, cultural trends, public debates on dietary fats, and fad diets.

scholarly journals Impact of Industrial Waste on Natural Resources: A Review in the Context of Bangladesh

2021 ◽  
Vol 16 (2) ◽  
pp. 348-361
Author(s):  
Umama Begum Ruba ◽  
Kakon Chakma ◽  
Jarrin Yeasmin Senthi ◽  
Saidur Rahman
Keyword(s):  
Natural Resources ◽  
Industrial Waste ◽  
Forest Ecology ◽  
Industrial Sector ◽  
Policy Enforcement ◽  
Substantial Impact ◽  
Environmentally Sustainable ◽  
Effective Policy ◽  
Published Research

Although the industrial sector contributes significantly to Bangladesh's economic growth and development, unplanned rapid industrialization is having a detrimental impact on natural resources. Since industrial waste has become a major concern, this study reviewed previously published research papers to highlight the detrimental effects of industrial waste on natural resources. This review observed industrial waste have a substantial impact on natural resources, causing contamination of the air, water, and soil, alongside disruption of aquatic and forest ecology. Therefore, effective policy enforcement is expected to ensure that industrialization is sustainable, both in terms of mitigating environmental pollution and promoting more environmentally friendly industries. Bangladesh's long-term sustainability and prosperity necessitate industrialization, but it should be done in an environmentally sustainable manner.

scholarly journals Capital Structure and The Profitability of Listed Retail Firms

2018 ◽  
Vol 10 (1) ◽  
pp. 171
Author(s):  
Jason Stephen Kasozi
Keyword(s):  
Capital Structure ◽  
Negative Relationship ◽  
Order Theory ◽  
Debt Financing ◽  
Retail Sector ◽  
Short Term ◽  
Return On Assets ◽  
Pecking Order Theory ◽  
Policy Interventions

The South African retail sector continues to experience a decline in sales and returns amidst growing external competition and a drop in consumer confidence stemming from the recent credit downgrades in the country. Yet, firms in this sector appear to maintain high debt to equity levels. This study investigated whether the capital structure practices of these firms influence their profitability. A Panel data methodology, using three regression estimators, is applied to a balanced sample of 16 retail firms listed on the Johannesburg Securities Exchange (JSE) during the period 2008-2016. The analysis estimates functions relating capital structure composition with the return on assets (ROA). Results reveal a statistically significant but negative relationship between all measures of debt (short-term, long-term, total debt) with profitability, suggesting a possible inclination towards the pecking order theory of financing behaviour, for listed retail firms. Additionally, retail firms are highly leveraged yet over 75% of this debt is short-term in nature. Policy interventions need to investigate the current restrictions on long-term debt financing which offers longerterm and affordable financing, to boost returns. While this study’s methodology differs slightly from earlier studies, it incorporates vital aspects from these studies, and simultaneously specifies a possible model fit.  This helps to capture unique but salient characteristics like the transitional effects of debt financing on firm profitability.  It therefore delivers some unique findings on the financing behaviour of retail firms that both in form policy change, while stimulating further research on the phenomenon. 

scholarly journals (Re)-Structuring the CEO's Compensation-the Case of Israel

2020 ◽  
Vol 6 (20) (3) ◽  
pp. 105-117
Author(s):  
Katarzyna Mroczek-Dąbrowska ◽  
Yaron Shemesh
Keyword(s):  
Corporate Governance ◽  
Executive Compensation ◽  
Market Power ◽  
Government Policies ◽  
Short Term ◽  
Executive Performance ◽  
Power Game ◽  
High Level ◽  
Israeli Experience

The executive compensation issue continues to cause protest due to the increasing number of cases of an unjustifiably high level of pay. The main conflict arises from the misalignment of interests between the short-term expectations of the manager and long-term needs of the shareholders. Since there are no universal rules on how to price the executive performance companies reach for different means of establishing the CEO's compensation and ascertaining manager's commitment towards maintaining a company's value. The issue becomes more complex once the compensation rules are not a direct effect of the market power game but are additionally restricted by government. The aim of the paper is to discuss corporate government policies introduced in Israel and their impact on executive compensation level and structure. Israel is amongst those countries that partially regulate CEO compensation and thus the Israeli experience can add to the understanding of the effectiveness of modern corporate governance.

scholarly journals A Case Study on China’s Policies of Promoting Work Resumption During the COVID-19 Pandemic — Perspective of Policy Resilience

2021 ◽  
pp. 54-76
Author(s):  
Qicheng LU ◽  
◽  
Bin RONG ◽  
Yijia LI ◽  
◽  
...  
Keyword(s):  
Evaluation Model ◽  
Recovery Efficiency ◽  
High Recovery ◽  
Short Term ◽  
Index Model ◽  
Effective Policy ◽  
High Level ◽  
Work Resumption

During the COVID-19 pandemic, China has achieved high recovery efficiency. One of the most important reasons behind this is the effective poli­cies of promoting work resumption. Why can such policies maintain steady performance despite the high level of environmental uncertainties? This ques­tion can be answered from the perspective of policy resilience. This study employed a policy evaluation model for analyzing quantitative data of 342 poli­cies of promoting work resumption. We evaluate the policies through the Policy Modeling Consistency (PMC-index) model and text mining methods. The results show that: first, the contents and elements of all policies have consistent characteristics, including the combination of multiple policy tools, the combi­nation of support for work resumption and pandem­ic control, the incentives to support effective policy implementation, and the reasonable match between macro and micro policies as well as short-term and long-term policies. Second, among the nine policies that are randomly selected from the sample, one is rated excellent and the other eight are good, indicat­ing that China’s policies of promoting work resump­tion have good resilience.

scholarly journals Streets, Sidewalks and COVID-19: Reimaging New York City’s Public Realm as a Tool for Crisis Management

2021 ◽  
pp. 2150006
Author(s):  
Donovan Finn
Keyword(s):  
New York ◽  
New York City ◽  
Urban Design ◽  
Social Systems ◽  
The United States ◽  
Crisis Response ◽  
Government Policies ◽  
Public Realm ◽  
Short Term

The 2020 COVID-19 outbreak has caused significant disruption to economic and social systems. New York City, as the United States’ largest city and among the nation’s most densely populated, was an early epicenter of the crisis. Modifications to the design, planning and operations of the city’s public realm have been important components of the city’s overall response to mitigate the effects of the pandemic while also facilitating economic recovery and providing social, educational, and recreational opportunities for city residents. This commentary provides an overview of New York City’s urban design responses to COVID-19, highlighting some of the successes and limitations of the city’s programs. We conclude by arguing that, in order to be effective, short-term crisis response efforts such as these must eventually be turned into government policies that not only address immediate urgent crises but also begin to facilitate durable long-term recovery and address longstanding systemic inequalities and vulnerabilities.

Conceptual short-term memory (CSTM) supports core claims of Christiansen and Chater

2016 ◽  
Vol 39 ◽  
Author(s):  
Mary C. Potter
Keyword(s):  
Working Memory ◽  
Rapid Serial Visual Presentation ◽  
Language Comprehension ◽  
Short Term Memory ◽  
Visual Presentation ◽  
Long Term Memory ◽  
Short Term ◽  
Term Memory ◽  
Use Of Knowledge

AbstractRapid serial visual presentation (RSVP) of words or pictured scenes provides evidence for a large-capacity conceptual short-term memory (CSTM) that momentarily provides rich associated material from long-term memory, permitting rapid chunking (Potter 1993; 2009; 2012). In perception of scenes as well as language comprehension, we make use of knowledge that briefly exceeds the supposed limits of working memory.

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